Union of the Comoros: Staff Report for the 2012 Article IV Consultation, Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurances Review (IMF Country Report No. 13/32)

IMF Country Report 13/32 (Comoros 2012 Article IV and fourth ECF review, Feb 2013; HTML, about 11,400 lines incl. tables, Fund relations, DSA, letter of intent, MEFP and TMU). Programme content: the footnote repeated under most tables that 2011-12 revenue includes ECP receipts of about 3% of GDP a year; Text Figure 1 note (2012 about 3%); para 8 and MEFP para 3 on 2012 (ECP receipts projected at 4.5% of GDP against a 1.4% programme target, windfall 3.1%, 1.8% saved, 1% to transport infrastructure and malaria/HIV, 0.2% short-term loan to the oil importer); para 12 (4% in 2011-12, return to about 2% in 2013); the ECP feeding the narrowing of the current account deficit (no ECP number); TMU footnote defining the ECP (2008, KMF 1 million, about US$3,000, receipts routed via the Banque de France). The fiscal tables have no separate ECP line (it sits inside nontax revenue), so no KMF amounts. The 3%, 4%, 4.5%, 1.4%, 2% rows and the KMF 1 million term were already in the data; the windfall, savings and allocation figures are added (one new indicator proposed: cbi_revenue_saved_pct_gdp). The rest of the report (growth, inflation, debt, reserves, structural reforms) is out of scope. Rules restated from other sources are now recorded from this document too (decision 8).